828 AGRICULTURAL ECONOMICS 



The table shows that from the year of greatest depression, 1896, 

 to 1909, there was a practically constant yearly increase in value of 

 the output of an acre of produce, the total increase from $7.94 to 

 $16.42 being nearly 107 per cent. In 1910 there was the first reduc- 

 tion from the preceding year since 1898 a reduction from $16.42 

 per acre to $15.49, equivalent to 5.7 per cent; however, values per 

 acre hi 1910 were 69.7 per cent higher than in the census year 

 of 1899. 



Although the aggregate production of crops in 1911 was about 

 6.3 per cent smaller than 1910 and 0.5 per cent smaller than in 1909, 

 the total money value of crop production in 1911, by reason of 

 enhancement in prices, was about 2.1 per cent greater than in 1910 

 and 3 per cent greater than 1909. According to a report of the Bureau 

 of the Census, the value of all crops in the United States in 1909 

 was about $5,487,000,000; on this basis it is estimated that the money 

 value of all crops in 1910 was about $5,537,000,000, and 'of crops 

 hi 1911, $5,654,000,000. 



The money value of i acre of produce in 1911 averaged about 

 $15.48, as compared with $15.50 in 1910, $15.99 in 1909, and $9.48 

 in 1899. The larger aggregate value of crops hi 1911 than hi 1910 

 and 1909 was due to increased acreage in conjunction with enhance- 

 ment of prices. 



The estimates here given are based upon data received for crops 

 covering about 90 per cent of the area of all field crops and may be 

 assumed to be representative of all crops. 



An investigation of prices of about 85 articles generally purchased 

 by farmers indicates that such articles averaged hi price hi 1911 

 about i.i per cent higher than in 1910, 2.6 per cent higher than in 

 1909, and about 15.3 per cent higher than in 1899. 



Taking into consideration the variation in the price of things 

 which farmers buy and in the things which farmers sell, it appears 

 that the purchasing power of i acre of crops in 1911 was 1.2 per cent 

 less than in 1910, 5.7 per cent less than in 1909, and 41.6 per cent 

 greater than in 1899. 



The purchasing power of i acre of corn in 1911 was 9 per cent 

 greater than in 1910, 4.1 per cent less than in 1909, and 50.7 

 per cent greater than in 1899. 



The purchasing power of i acre of wheat in 1911 was 11.7 per 

 cent less than in 1910, 29.8 per cent less than in 1909, and 30.2 per cent 

 greater than in 1899. 



